Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 845 · 40 questions

Business tip (Revenue in, profit left): Sole trader: one owner, keeps all the profit, owes the debts, simplest to start. Company: a separate legal body, owned by shareholders, run by directors, owners’ risk limited. Revenue = price × number sold. Profit = revenue − costs, so costs = revenue − profit. Teens run a business with adult help; tax and legal questions go to an adult or an expert.

1. 1.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
2. 2.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
3. 3.A small business sells 57 cupcakes at ₹20 each. Its costs are ₹40. What is its profit (in ₹)?
4. 4.A small business selling painted pebbles had a revenue of ₹210 and a profit of ₹100. What were its costs (in ₹)?
5. 5.Which of these is true of a company? (a) owner owes the debts (b) owned by shareholders (c) simplest to start (d) one owner runs it
6. 6.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owners’ risk is limited (d) simplest to start
7. 7.👤 A sole trader is… (a) a bank (b) a school club (c) a one-owner business (d) a big company
8. 8.🏢 A company is owned by… (a) its suppliers (b) its shareholders (c) its customers (d) the government always
9. 9.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) owner owes the debts (d) run by directors
10. 10.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
11. 11.A small business sells 55 glasses of chai at ₹40 each. What is its revenue (in ₹)?
12. 12.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
13. 13.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) a separate legal body (d) one owner runs it
14. 14.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
15. 15.A small business sells 45 bags of popcorn at ₹5 each. What is its revenue (in ₹)?
16. 16.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
17. 17.A small business sells 34 painted pebbles at ₹40 each. Its costs are ₹930. What is its profit (in ₹)?
18. 18.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
19. 19.A small business selling friendship bands had a revenue of ₹1645 and a profit of ₹95. What were its costs (in ₹)?
20. 20.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
21. 21.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) a separate legal body (d) owner keeps all profit
22. 22.A small business sells 53 handmade cards at ₹45 each. What is its revenue (in ₹)?
23. 23.A small business sells 12 clay diyas at ₹45 each. Its costs are ₹60. What is its profit (in ₹)?
24. 24.A small business sells 40 fruit cups at ₹10 each. Its costs are ₹340. What is its profit (in ₹)?
25. 25.A small business sells 13 painted pebbles at ₹50 each. What is its revenue (in ₹)?
26. 26.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) nobody (c) a classmate (d) a random video
27. 27.A small business selling cups of lemonade had a revenue of ₹775 and a profit of ₹205. What were its costs (in ₹)?
28. 28.True or false: “owner owes the debts” is true of a sole trader. (a) True (b) False
29. 29.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
30. 30.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
31. 31.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
32. 32.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
33. 33.A small business selling glasses of chai had a revenue of ₹900 and a profit of ₹820. What were its costs (in ₹)?
34. 34.A small business selling cups of lemonade had a revenue of ₹675 and a profit of ₹235. What were its costs (in ₹)?
35. 35.A small business sells 14 glasses of chai at ₹45 each. What is its revenue (in ₹)?
36. 36.A small business sells 33 glasses of chai at ₹10 each. Its costs are ₹170. What is its profit (in ₹)?
37. 37.A small business sells 54 cupcakes at ₹30 each. Its costs are ₹310. What is its profit (in ₹)?
38. 38.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only with adult help (c) only at night (d) never ever
39. 39.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
40. 40.📊 Revenue or profit: price × number sold? (a) profit (b) revenue

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